(Last Updated October 19, 2020 10:18 GMT)
Currently, GBPAUD’s rate is up 24 pips (0.13%) from the hour prior. The hourly chart shows that GBPAUD has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
GBPAUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPAUD is up 44 pips (0.24%) since the previous day (opening today near 1.8231), marking the 3rd consecutive day an upward move has occurred. Out of the 40 instruments in the Forex asset class, GBPAUD ended up ranking 5th for the day in terms of price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Coming into today the current price of GBPAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 8 them.